16 April 2012

Murata Electronics to acquire RF Monolithics

Wireless communications product maker RF Monolithics Inc (RFM) of Dallas, TX, USA has entered into a definitive agreement to be acquired by Murata Electronics North America Inc (a subsidiary of the world’s biggest passive electronic components supplier Murata Manufacturing Co Ltd of Kyoto, Japan) for $1.78 per share to holders of RFM common shares (an 80% premium over the Nasdaq closing price on 12 April). The acquisition is expected to close in third-quarter 2012.

“There is a natural fit between our two companies, and we believe it was a significant factor in our outside directors’ ability to attain a favorable price for our stockholders,” says RFM’s president & CEO Farlin Halsey.

“RFM’s proven success in developing business in the healthcare, energy and industrial markets complements Murata’s growth strategy,” says David M. Kirk president & CEO of Murata Electronics North America Inc (the regional headquarters of Murata Americas). “Additionally, leveraging RFM’s expertise in design and development of production-ready RF modules, SAW-based and RFIC short-range radios, stand-alone radio systems and platforms for M2M [machine-to-machine] applications will enable Murata to increase the value of the wireless module solutions delivered to Murata’s existing and future customers in the global marketplace,” he adds.

The transaction is subject to customary closing conditions, including shareholder and regulatory approvals.

Tags: Murata

Visit: www.RFM.com

Visit: www.murataamericas.com